Sector equity fund can be very volatile. It is also very effective for investor to make a bet on certain sector. One of the value equity sector fund is financial sector stock mutual fund. One of this best rated sector fund is Fidelity Select Insurance Portfolio. This is the fund's review of this Fiidelity fund.
Fidelity Select Insurance Portfolio (MUTF: FSPCX)
Fidelity Select Insurance Portfolio (MUTF: FSPCX)
The Fidelity Select Insurance Portfolio fund seeks capital appreciation. The fund generally invests majority of assets (>80%) in financial companies stocks. These companies usually involve in underwriting, reinsuring, selling, distributing, or placing of property and casualty, life, or health insurance. It invests in domestic and foreign issuers. This financials stock fund is non-diversified sector mutual fund.
FSPCX Fund Details
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| Fidelity Select Insurance Portfolio |
- Fund Inception Date: December 16, 1985
- Ticker Symbol: FSPCX
- CUSIP: 316390541
- Beta (3yr): 1.18
- Rank in category (YTD): 23
- Category: Financial
- Distribution: 0.76%
- Capital Gains: N/A
- Expense Ratio: 0.91%
- Net Assets: $242.28 million
- Number of Years Up: 17 years
- Number of Years Down: 8 years
- Annual Turnover Rate: 193%
Court Dignan is the lead manager of this Fidelity fund since 2009. The fund’s expense ratio is 0.91% per year. The average expense ratio of financial fund category is 1. 76%. As part of no load fund, this Fidelity fund doesn’t have any sales load (i.e. front sales load and deferred sales load). The fund also has a dividend yield of 0.76%.
This Fidelity Select Insurance fund has 3-stars rating from Morningstar. The best 1-year total return was recorded in 2000 with 53.26%. The worst performance year occurred in 2008 with -46.99%. It has returned 18.83% over the past one year and 3.92% over the past three years. There is no other class of this fund.
This financial sector equity fund has been selected as a Fund Pick from Fidelity Strategic Advisers. This fund is introduced to investor since 1985. Investor can invest in this fund with $2,500 minimum investment balance for regular brokerage account and $500 for retirement account (IRA). FSPCX fund can be purchased from 65 brokerages include JP Morgan, T Rowe Price, Vanguard, Ameriprise Brokerage, Royal Alliance, Raymond James, Schwab Retail, EP Fee Small, Federated Trust Connect, Mony Securities Corp, E Trade No Load Fee, etc.
The top 5 countries diversification as of June 2011 are USA (79.3%), Switzerland (7.12%) and United Kingdom (5.18%). The assets allocations of this fund are 78.74% in domestic equities, 20.69% in international equities and 0.57% in cash & net other assets. The top 10 holdings of this fund make up to 68.53% out of the total of 43 holdings. They are Berkshire Hathaway Inc, Metlife Inc, Ace Ltd, Prudential Financial Inc, Aflac Inc, Chubb Corp, Aon Corp, Hartford Financial Services Group Inc, Travellers Companies Inc, and Amlin Plc.
Disclosure: No Position
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